Alex_YYC
Senior Member
Sidewalk construction complete and a business open!
One thing that I keep hearing from potential building owners and property owners in Calgary is that they want the commercial to be standalone from the residential component. Most of the operators seem to specialize in res or comm which makes forward sales of vertical mixed use projects (especially on small projects) hard here, because they have limited portfolios and staff. Big reason for limited push for mixed use in greenfield developments is what I’m seeing and aware of.This building can be yours for $6.9M - apparently they have given up on finding a commercial tenant for the second floor and are now marketing it as “5 undeveloped residential units”.
Honest question: Is it really that hard to just sell the commercial and residential portions of the building to different operators?One thing that I keep hearing from potential building owners and property owners in Calgary is that they want the commercial to be standalone from the residential component. Most of the operators seem to specialize in res or comm which makes forward sales of vertical mixed use projects (especially on small projects) hard here, because they have limited portfolios and staff. Big reason for limited push for mixed use in greenfield developments is what I’m seeing and aware of.
I wouldn't say so, but it just isn't what a lot of them seem to want for one reason or another. Maybe it is "complicated" agreements and arrangements with condo board over parking/garbage removal/condo docs etc that the commercial owners don't like.Honest question: Is it really that hard to just sell the commercial and residential portions of the building to different operators?
I would be curious if there's a comparative study out there from a city or country that has mixed-use commercial/residential as a default and what they do - costs always need to be shared but seems some places are just able to get on with it with little fanfare and fewer "for lease" signs.I wouldn't say so, but it just isn't what a lot of them seem to want for one reason or another. Maybe it is "complicated" agreements and arrangements with condo board over parking/garbage removal/condo docs etc that the commercial owners don't like.